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Hong Kong shares extend fall as inflows from China dry up

Mainland stocks listed in city, led by banks, spur reversal of intraday gains

HONG KONG (Nikkei Markets) -- Hong Kong shares fell to their lowest closing level of the year on Wednesday, with Chinese banks leading an afternoon retreat as mainland investors turned sellers.

The benchmark Hang Seng Index fell 0.9% to 30,323.20, its seventh decline in eight trading days. The gauge had risen as much as 2.9% earlier in the day. Industrial & Commercial Bank of China (ICBC), China Construction Bank (CCB) and Ping An Insurance Group, all of which advanced in the first half of the day, reversed course to end 1.7%, 2.6% and 1.5% lower, respectively. Geely Automobile Holdings slid 2%, also letting go of the day's highs.

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